Ayala Malls puts ₱12.7B bet on Cebu’s economic boom

Ayala Malls, the retail arm of real estate giant Ayala Land Inc. (ALI), is investing P12.7 billion for the planned redevelopment and construction of its three Cebu-based malls that will boost their economic vitality and retail prominence.

- By JAMES A. LOYOLA

The investment is a key part of ALI’s previously announced “reimagining” of flagship and core malls, with phased rollouts from 2025 to 2028.

In Cebu, this covers flagship Ayala Center Cebu, Ayala Malls Central Bloc at Cebu IT Park, and Ayala Malls Gatewalk in Mandaue City.

This strategic deployment of capital underscores ALI’s confidence in the sustained consumer demand and economic potential of key urban centers like Cebu.

“Cebu is the economic heart of the Visayas, home to a rapidly growing urban population, a robust middle class, and rising consumer spending,” said Ayala Malls Chief Operating Officer (COO) Paul Birkett.